Platinum Investment Management Ltd. Acquires 546,929 Shares of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Platinum Investment Management Ltd. lifted its holdings in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) by 293.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 733,011 shares of the company’s stock after purchasing an additional 546,929 shares during the period. Platinum Investment Management Ltd. owned about 0.19% of Recursion Pharmaceuticals worth $4,955,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Recursion Pharmaceuticals by 47.1% in the third quarter. State Street Corp now owns 12,870,272 shares of the company’s stock worth $84,815,000 after purchasing an additional 4,120,685 shares during the period. FMR LLC boosted its position in shares of Recursion Pharmaceuticals by 2.1% in the third quarter. FMR LLC now owns 8,363,530 shares of the company’s stock worth $55,116,000 after purchasing an additional 170,810 shares during the period. Geode Capital Management LLC raised its position in shares of Recursion Pharmaceuticals by 13.7% during the third quarter. Geode Capital Management LLC now owns 5,431,911 shares of the company’s stock valued at $35,803,000 after buying an additional 656,003 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Recursion Pharmaceuticals by 17.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,274,003 shares of the company’s stock worth $15,372,000 after buying an additional 333,323 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Recursion Pharmaceuticals by 2.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,140,750 shares of the company’s stock worth $14,108,000 after buying an additional 43,078 shares in the last quarter. Institutional investors own 89.06% of the company’s stock.

Recursion Pharmaceuticals Stock Performance

NASDAQ:RXRX opened at $6.39 on Wednesday. The stock’s fifty day moving average is $7.50 and its 200 day moving average is $7.01. Recursion Pharmaceuticals, Inc. has a fifty-two week low of $5.60 and a fifty-two week high of $12.36. The firm has a market capitalization of $2.57 billion, a PE ratio of -4.18 and a beta of 0.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.35 and a current ratio of 4.35.

Recursion Pharmaceuticals (NASDAQ:RXRX) last released its earnings results on Friday, February 28th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.17). Recursion Pharmaceuticals had a negative return on equity of 76.56% and a negative net margin of 579.52%. The business had revenue of $4.60 million during the quarter, compared to analysts’ expectations of $19.04 million. During the same quarter in the previous year, the business earned ($0.42) EPS. The business’s revenue for the quarter was down 57.8% on a year-over-year basis. On average, sell-side analysts anticipate that Recursion Pharmaceuticals, Inc. will post -1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

RXRX has been the topic of several research analyst reports. KeyCorp lowered their target price on shares of Recursion Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Leerink Partners lowered their target price on Recursion Pharmaceuticals from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Friday, February 28th. Cowen reiterated a “hold” rating on shares of Recursion Pharmaceuticals in a research report on Friday, February 28th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Recursion Pharmaceuticals in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.25.

Recursion Pharmaceuticals Company Profile

Recursion Pharmaceuticals, Inc operates as a clinical-stage biotechnology company, engages in the decoding biology by integrating technological innovations across biology, chemistry, automation, data science, and engineering to industrialize drug discovery. The company develops REC-994, which is in Phase 2 clinical trial to treat cerebral cavernous malformation; REC-2282, which is in Phase 2/3 clinical trial for the treatment of neurofibromatosis type 2; REC-4881, which is in Phase 1b/2 clinical trial to treat familial adenomatous polyposis; REC-3964, which is in Phase 1 clinical trial to treat Clostridioides difficile infection; and REC-4881, which is in Phase 2 clinical trial to treat AXIN1 or APC mutant cancers.